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Thread: GM Posts Nearly $900 Million Profit in 1Q

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    GM Posts Nearly $900 Million Profit in 1Q

    GM Posts Nearly $900 Million Profit in 1Q - FOXBusiness.com

    this is great news. the loan has been repaid, i'm hoping the stock prices will rise so the gov't can start selling some off.

    all in all, a success story, so far.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: GM Posts Nearly $900 Million Profit in 1Q

    Right-Wingers debunking this in 5... 4... 3...

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    Re: GM Posts Nearly $900 Million Profit in 1Q

    Quote Originally Posted by Jetboogieman View Post
    Right-Wingers debunking this in 5... 4... 3...
    well, they can't debunk the facts. ;-)

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: GM Posts Nearly $900 Million Profit in 1Q

    Quote Originally Posted by liblady View Post
    well, they can't debunk the facts. ;-)
    Oh yes you can, where's The Prof when you need him

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    Re: GM Posts Nearly $900 Million Profit in 1Q

    Quote Originally Posted by Jetboogieman View Post
    Oh yes you can, where's The Prof when you need him
    Moderator's Warning:
    GM Posts Nearly 0 Million Profit in 1QTalk about the topic please, not what some other poster might think
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    Re: GM Posts Nearly $900 Million Profit in 1Q

    k....sorry.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: GM Posts Nearly $900 Million Profit in 1Q

    GM repaid their government loan with TARP money.

    "The automaker, however, didn't repay any of the loans from its earnings. Repayments came from "other TARP funds currently held in an escrow account," according to a report by the special inspector general overseeing TARP funds.
    Federal investment"

    "The money in the escrow account was part of the government's equity investment in GM and "was going to be available for future problems with GM," Neil Barofsky, head of the inspector general's office, told Congress last week."

    GM repays federal loan with government money - SFGate
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    Re: GM Posts Nearly $900 Million Profit in 1Q

    Sorry Sorry. On topic, I wonder how much this profit boost can last? Or when they'll be able to buy back the company from the Gov. Until then, I think the profits mean very little.

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    Re: GM Posts Nearly $900 Million Profit in 1Q

    Quote Originally Posted by liblady View Post
    well, they can't debunk the facts. ;-)
    What facts? How did GM repay their loan when they had to borrow tax money in order to repay it? If anything they just refinanced their loan in order to show that they made a profit to the Obama Zombies.
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    Re: GM Posts Nearly $900 Million Profit in 1Q

    I'm sorry to have to do this, but...

    GM's Payback A Start, But An End Still Far Off : NPR

    Mr. ED WHITAKER (CEO, General Motors): We want to make this a company all Americans can be proud of again. That's why I'm here to announce we have repaid our government loan in full, with interest, five years ahead of the original schedule.

    LYDEN: The White House says this is a sign its multibillion-dollar bailout plan is working. Others are not convinced. For more, Micheline Maynard is back with us. She's a senior business correspondent for the New York Times and author of the book, "The Selling of the American Economy." And she joins us from the studios of WUOM in Ann Arbor, Michigan. Thanks for being back here.

    Ms. MICHELINE MAYNARD (Senior Business Correspondent, New York Times, Author, "The Selling of the American Economy"): Thank you so much, Jacki.

    LYDEN: So, that's quite a claim Ed Whitaker is making. Paid back with interest?

    Ms. MAYNARD: Technically, he's only talking about a loan which was made to General Motors when it came out of bankruptcy. We're not talking about the $60 billion that General Motors got from the Treasury Department. And I guess one way to think about it would be a student who graduates from college and is sort of flat on their back after paying off, you know, all their loans and says to their parents, can you help me get set up? And the parents buy them a condo and say, well, you'll need some operating money. And you know, we'd like to have about half the operating money back but you can have five years to pay us back.

    So the student comes forward a year later and says, hey mom and dad, here's a check for half the money. Well, they haven't paid off the condo, and they haven't given back the other half of the money. But we're probably months - if not a year or more away - from seeing GM go public again and be able to pay back some of what it owes the government.
    They haven't even started to pay back the $60b they owe.
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